Europe-PH News

The National Competitiveness Council (NCC) on Thursday cited reforms that are expected to improve the country's ease of doing business ranking next year.

Gufflermo Luz, NCC private sector co-chairman, said the new ranking of the Philippines "basically reflects that our pace of reform needs to be accelerated."

"Moreover, the execution of proposed changes needs to gain more traction.  The key to building up competitiveness in the ease of doing business processes is to further simplify government transactions and procedures, strengthen institutions, and work with more speed along a multiple set of reforms over time," Luz said.

In their 2012 Doing Business Report, the World Bank and International Finance Corp said the Philippines ranked 136th out of 183 economies, or down two notches from the previous year's 134th place.

Luz said the NCC and the Departments of Trade and Industry, of Interior and Local Government, and of Finance, as well as the Bureau of Customs and the Securities and Exchange Commission are working on several projects designed to simplify government procedures.  DTI has been working with several agencies to complete an online Philippine Business Registry.

This program will enable new businesses -- whether single proprietorship or corporations -- to begin the business registration business online," Luz said.

The system is undergoing tests and will be launched before the year ends.  The DOF and BOC, along with some 30 other agencies have designed a National Single Window to simplify and bring online Customs services needed by importers and exporters.

"Other improvements will need to be made over the next year in order to improve the country's rankings.  Among these will need to be improvements in property registration, tax payment procedures, investor protection, credit information, enforcement of contracts, construction permit issuance, and the resolution of insolvency," Luz said.

Source: Manila Times; Business; 04 November 2011